A Tiffany & Co store in New York, April 26, 2023. KENA BETANCUR / AFP
Four years after acquiring Tiffany & Co. for more than €14 billion, LVMH is giving the New York jeweler a new address on Rue de la Paix in Paris. The brand will occupy nearly 2,100 square meters at 7 Rue de la Paix, a street in central Paris known for its jewelry boutiques. According to Le Monde sources, Tiffany will occupy a building adjacent to the historic Cartier store that was renovated in 2023. Cartier, owned by the Swiss group Richemont, is a major rival and the world's leading jeweler.
Founded in 1837 by Charles Lewis Tiffany, Tiffany & Co. previously occupied 7 Rue de la Paix from 1936 to 1950 before relocating. Since 1999, the company has operated a 200-square-meter boutique on the opposite side of the street.
Bernard Arnault, the CEO of LVMH, has never hidden his ambition to redesign Tiffany's stores in Paris. One year after the acquisition, in June 2022, the brand opened a location on Avenue Montaigne, just a stone's throw from LVMH's headquarters and across from the Dior store, one of LVMH's flagship subsidiaries. Arnault deemed the 1,000-square-meter address at number 62 Avenue des Champs-Elysées, used since 2014, too lackluster. The group stated that they are working to move up the street to 100 Avenue des Champs-Elysées. They also decided to make a grand return to Rue de la Paix.
